hello.
I'm worrying about tuition fee.I will be getting enough funding from osap to pay my tuition. however, half of the funding will come out on mid january. Therefore i can only pay half this sept 1st.
i've selected "paying full" on my payment agreement. I'm only able to pay the other half when osap comes out on january. Then, which is the best choice (flex plan, considering interest rate & the fact i can pay by jan 8th) to select on the payment agreemnet, since i know i can't pay full anymore.

I would suggest the OSAP payment option which is 60% first semester and 40% second semester

You are charged the same amount of interest no matter which plan you choose. But it's best to choose the plan you can actually follow (Paying the certain amount by the certain deadline). The last thing you want is McMaster doing something ridiculous because you didn't adhere to the payment agreement you confirmed.

if i choose the 1st one below the flex plan, the one Brad is talking about.
i pay 60% of the fee 1st term (is it still by sept 1st or during 1st term?) and 40% by the second term(jan).
so then i have to calculate the interest rate 1.2%/month and also the additional fee $35. is this correct?

on the payment agreement, the one that is below N/A or the one says payment in full is the balance i have to pay on my own. right? but on my osap status, it says that the money will be coming out past sept 1st.....then where did the osap estimate they deducted come from? is it literally just an estimate? which means i have to follow the funding date on the osap stauts?

Originally Posted by banana93

on the payment agreement, the one that is below N/A or the one says payment in full is the balance i have to pay on my own. right? but on my osap status, it says that the money will be coming out past sept 1st.....then where did the osap estimate they deducted come from? is it literally just an estimate? which means i have to follow the funding date on the osap stauts?

Yes, payment in full is what you have to pay by the first (tuition minus osap estimate).
I'm pretty sure for almost everybody, the 'estimate' is what you actually get, except in situations where there were mistakes made on income, taxes, etc. (i.e. mine has never been different from that)

Originally Posted by RyanC

Yes, payment in full is what you have to pay by the first (tuition minus osap estimate).
I'm pretty sure for almost everybody, the 'estimate' is what you actually get, except in situations where there were mistakes made on income, taxes, etc. (i.e. mine has never been different from that)

are you sure that the estimate is what we actually receive?? because it's less than half of what the osap website is showing to me. When you log into osap and check your status-funding summary, it shows the amount i'll be getting in specific dates...i thought that is the actual amount i'll be getting in the end...

Originally Posted by banana93

are you sure that the estimate is what we actually receive?? because it's less than half of what the osap website is showing to me. When you log into osap and check your status-funding summary, it shows the amount i'll be getting in specific dates...i thought that is the actual amount i'll be getting in the end...

The quoted value on your payment agreement should be 60% of your total funding.

Gonna check my OSAP just to make sure though, brb

edit: the number on my payment agreement (quoted by 'the school') is slightly higher than the value ($200 off) from what I'm 'actually' receiving

Is yours significantly different? :S

Originally Posted by RyanC

The quoted value on your payment agreement should be 60% of your total funding.

Gonna check my OSAP just to make sure though, brb

edit: the number on my payment agreement (quoted by 'the school') is slightly higher than the value ($200 off) from what I'm 'actually' receiving

Is yours significantly different? :S

yeah. the number on my payment agreement, the amount beside "deducted from osap estimate" is approximately 60% of my total funding. is this supposed to be right? the place where it says "check back for actual amount after aug 18th" (cant remember the exact saying..sth like that) says N/A.
.....urgh ..ill call the school. thanks

I've only used the OSAP Flex plan option, never had an issue with it.

do i select "osap" as my funding option if ill be paying the balance on my own. but that's the amount left after they already deducted from osap estimate. so....do i select osap as the option? so confused..